@Connor O'Brien CHA does release payment standards that can be found on their website but those are maximums, not guaranteed. 

Would it be wise to buy the land with cash we have or utilize as down payment to avoid PMI?

Quote from @Charles Fay: Hello all, first time posting and wanted to ask for your advice.currently in the military awaiting a 9-12 deployment within the next 6 months.I will have ~150k savings after deployment, 85k before, with no debt, payments or anything other than basic bills, 750+ credit.

I would like to purchase another property so I looked into a heloc and a cash out refinance and it looks like I would qualify for about 75000 max which would be enough to put a down payment on another property and rehab it, but I still haven’t paid myself back from the original property rehab.

Generally, lenders will require you to have a substantial down payment.

Payments stay lower, cashflow better and it'll boost your balance sheet not to mention lower risk when things go awry. 

Cash out refi only if the rental income significantly exceeds the monthly payment and you want liquidity to invest elsewhere.2.You can maybe do a HELOC if you want a smaller loan that doesn’t involve refinancing the entire house.3.

Late payments, property damage, and evictions are avoidable when you have a PM who knows how to find reliable renters.I encourage you to seek out a property management company that emphasizes tenant screening and uses modern tools for verification.

The argument is a loan has a payment.

But, you can go up to 65% loan to value with no reserves, or up to 80% loan to value if you have 12 months payments already in the bank (12 months reserves_.